Come on guys, Help rather than Hinder.

We are all here to learn or help, lets keep it that way.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

I would be intrested also. Always keen to hear what others are doing.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Excellent topic Dazz.

Advice is just that, Advice. But checking on that advice is also important. I always get more than one opinion on important matters.

If the Financial planners are so good then why are they still working? I think I am in the best position to make my money work for me, and if it goes belly up, so what, it’s my money and my…[Read more]

Hi Redwing

I have one question for everyone, Why do people need to see their accountant face to face? My accountant is in Melbourne and I live in sunny Brisvagas. I would not know him if I passed him in the srteet, but he has saved me many, many dollars while I have been using him.

The point I’m trying to make is “Your accountant is your…[Read more]

You can use different stratagies that do not involve selling your property to the trust. This can save thousands of dollars but also give you the protection you need.

You need a plan of what to protect in which order.
E mail me if you want to talk.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

This is one of many questionable lawsuits, and it is becoming more common as there is now a precident set. This type of thing really gets my nickers in a knot. I think that it’s the “No win no fee” lawyers that are to blame for the current litigation nightmare we are in.

Hopefully it will not last for ever.

CATA
Asset Protection…[Read more]

I do recommend insurance but this does not cover everything. Criminal negligence is the main one,as you can not insure against a criminal act.

You are responsible for the upkeep of your IP’s even if you have a manager. If someone sues you for an injury sustained in a IP it can be argued by your insurance company that you were negligent.

This…[Read more]

I only ever sell if I can get a better deal somewhere else.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Originally posted by hellman:

Trusts—
Best asset protection (IMO) if you get sued you can protect your assets (with a company as trustee it is very difficult for anyone to get your assets).

The only way a good trust will loose an asset is from inside the trust eg. something happening in a house owned by the trust. Then the most you…[Read more]

Could the trust sub-divide the land?
If you sub-divide it first then you pay two lots of stamp duty and CGT, If you sell it first then you pay only once.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

You probably need to sell the property to the trust before the sub-division. Selling the land at a low price may be an option, but not to low or this might raise some questions with the ATO. Maybe a little under market value.

This is probably the best way, but more info would be helpful.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

If the trustee company registers for GST it then becomes a trading company. I would only register the trust as you want the company to stay non-trading.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Originally posted by Mukta:

I am alittle confused with your reply though,
what your saying in your first message made sense to me, but in your next message you say waiting is nonense?

Paula

Sorry for the misunderstanding. Waiting until october to talk to someone is nonsence. I would find someone who wants my business and can set structures in…[Read more]

The advice I have says that this is not necessary,as long as Asset Protection is the main reason the rest ae secondary benifits.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

How many people here have actually seen him?????

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

neo25x5

Yes I have a vested interest in this subject but I do not waste peoples money on things they do not need.

As Mukta has pointed out, this is the start of her empire. Therefor structures should be taken seriously. I agree that waiting until october is nonsense and I know that the accountant will probably tell Mukta to use a Pty Ltd company…[Read more]

At the risk of being picky GP you should swap your two reason arround. Just to keep the ATO happy.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Originally posted by neo25x5:

If were talking about a basic residential property, and youre really `busting’ to buy, buy it. I don’t think you need to really concern yourself with trusts etc. unless you have a large portfolio.

Eric

There is no GST on a basic residential IP.
I disagree strongly with the rest of this post. Without proper…[Read more]

A trust is the best IMOP. This is also good for Asset Protection.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

John

The benefits of owning an IP in a trust are
-Asset Protection
-Tax benefits

The trust owns the IP or any asset, but lets you have control everything that happens in the trust. This will keep potential litigants away from your assets and give you some good tax planning also, as you can distribute profits to a low income earner.

A HBT or…[Read more]